Law & Regulation

The gaming firm funneling cash for global multi-level marketing scheme

Australian Financial Review
Mon, 06 Sep 2021

The gaming firm funneling cash for global multi-level marketing scheme
Since Emerge Gaming announced its Miggster program with Crowd1 late last year, the Australian Securities Exchange has issued Emerge with seven different Query Letters. (Image: Screengrab)
Australian Financial Review
Mon, 06 Sep 2021
The Australian corporate watchdog is monitoring ASX-listed Emerge Gaming, which last week revealed 98% of its revenue is derived from Crowd1 Network, a multi-level marketing company that has been the subject of warnings from several international regulators including in New Zealand.Emerge Gaming, a small Perth-based company with a market capitalisation of just A$30 million, booked revenues of A$10.9 million for the year to June 30, of which A$10.6 million came through sales of its Miggster gaming platform, a white-labelled “e-sports&rdquo...

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